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Press Release

Oaktree Capital Group, LLC Announces Launch of Public Offering of Class A Units

LOS ANGELES--(BUSINESS WIRE)--Feb. 7, 2018--
Oaktree Capital Group, LLC (NYSE: OAK) (“Oaktree”)
today announced a public offering of 5,000,000 Class A units by
Oaktree. Morgan Stanley will act as underwriter for the offering. In
addition, the underwriter has been granted a 30-day option to purchase
up to an additional 750,000 Class A units. Oaktree intends to use the
net proceeds from the offering to acquire interests in its business from
certain of its directors, current and former employees and other
investors, including certain senior executives and other members of its
senior management. Accordingly, Oaktree will not retain any proceeds
from the sale of Class A units in the offering.

The offering will be made under Oaktree’s effective Registration
Statement on Form S-3 filed with the U.S. Securities and Exchange
Commission (the “SEC”).

This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of these
securities in any jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such jurisdiction. The offering will be made only
by means of a prospectus supplement and an accompanying prospectus,
copies of which may be obtained by contacting Morgan Stanley & Co. LLC -
Attn: Prospectus Department - 180 Varick Street, 2nd Floor - New York,
NY 10014.

Disclosure Regarding Forward-Looking Statements

This press release contains forward-looking statements within the
meaning of Section 27A of the U.S. Securities Act of 1933, as amended,
and Section 21E of the U.S. Securities Exchange Act of 1934, as amended,
which reflect Oaktree’s current views with respect to, among other
things, the anticipated amount and terms of the offering and whether the
offering will be completed. Forward-looking statements contained in this
press release speak only as of the date of this press release. Except as
required by law, Oaktree does not undertake any obligation to publicly
update or review any forward-looking statement, whether as a result of
new information, future developments or otherwise.